The Daily A Historic Stimulus Bill
Mar 26, 2020
Julie Hirschfeld Davis, the Congressional editor of The New York Times, shares insights on the historic stimulus bill designed to combat the economic fallout of the pandemic. She discusses the hefty $425 billion earmarked for the Federal Reserve and the fierce bipartisan negotiations that characterize its passage. Hirschfeld also highlights how past financial crises are influencing today's political landscape and the varying responses from lawmakers, showcasing the urgency of providing relief while ensuring fiscal responsibility.
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Congress's Role
- Congress's main role in the pandemic is controlling federal funds.
- They passed three major legislations to address the public health and economic crises.
First Legislation
- The first legislation provided $8.3 billion to federal agencies.
- This funding aimed to support research and operations related to the coronavirus response.
Second Legislation
- The second legislation focused on economic relief, including paid leave.
- Pelosi and Mnuchin negotiated a bipartisan package to support Americans affected by the crisis.